How the Loan Process Works

There can be little doubt ; getting a mortgage loan is a complex process. You wouldn't be looking up loan information if it were possible to get a loan in one day with a simple application. But Hill Valley Financial Services Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four main steps involved in getting a mortgage loan.

Step one: determine how much you can borrow

A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: complete a pre-qualification

This is where Hill Valley Financial Services Inc. can begin saving you money. You will supply information on your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed this information, we'll provide you with a pre-qualificaiton letter. Handle it with care — it can be a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out your new home, we are finding the best loan program for you.

Step three: apply now! We make it easy

After you've signed the offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not get much easier; you can apply from the comfort of your home right here on our site. After the offer has been accepted and you have applied for your loan, we will order a professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will coordinate to decide on a title company to take care of the funding of your loan. We'll coordinate with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign all these papers at their officeWe work with with the title company on your date to close. Since you will not have to coordinate this process, you can think about moving logistics, paint colors, new carpet, and the fun parts of moving into a new home.

You've answered some few questions, given us lots of information, applied online, and the next thing you know, you're moving in! Hill Valley Financial Services Inc. is in the business of loans; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Hill Valley Financial Services Inc. at 503-657-3311. Hill Valley Financial Services Inc. answers loan process questions every day.